Chelsea have reached an agreement in principle to sign Independiente del Valle midfielder Kendry Paez, according to Sky Sports.

According to Sky Sports, Chelsea have won the race to sign the 15 year old Ecuador midfielder having agreed a deal in principle with Independiente to sign the midfielder for £20million.

Due to his age, Paez would not join Chelsea until he turns 18 in the summer of 2025, and he will continue to ply his trade in his homeland for the next couple of years.

Chelsea beat competition from Manchester United, Bayer Leverkusen, Manchester City and Real Madrid to sign the 15 year old midfielder.

A five-cap Ecuador Under-17s international, Paez has amassed one goal and five assists at that level for his country, setting up three goals in two games during the current Under-17 South American Championship.